KCPL, After Lengthy Battle,
Accepts Western's $2 Billion Bid

By

Benjamin A. Holden Staff Reporter of The Wall Street Journal

Updated Feb. 10, 1997 12:01 a.m. ET

Western Resources Inc.'s $2 billion pact to buy Kansas City Power & Light Co. calls for KCPL chairman Drue Jennings, onetime target of scathing personal attacks by Western, to join that company as its vice chairman.

On Friday, KCPL's board agreed to sell the company for $32 a share, accepting a pact that had been approved by Western's board three days earlier. The agreement calls for a tax-free, stock-for-stock exchange under...